The JSE climbed higher on Tuesday while European stocks joined the local bourse in creeping up. Investors have sought safety in defensive names while risk aversion has lifted the US dollar after weaker Chinese and US economic data led to global recession speculation.
The local bourse traded 1.08% higher with the All Share Index at 71,505 points.
In company news, a loan provider and seller of homeware products, Homehoice reported a 33% increase in its lending for the six months to the end of June with loans totalling R2.1 billion.
The company’s total earnings per share jumped by 25%, to 144 cents. The retail business’ operating profit increased by 19% to R38 million. HomeChoice declared an interim dividend of 64 cents per share, up from 47 cents in 2021.
Exxaro Resources reports that it expects an increase of between 18% and 32% in headline earnings for the six months ended in June. The company will release its interim results on Thursday and said its coal business was driven by higher sales prices.
